WHAT IS

E NTREP RENE U RS HI P ?

2ND SEM 2019-2020

 - IS THE PROCESS OF DESIGNING,
LAUNCHING, AND RUNNING A NEW
BUSINESS, WHICH IS MORE OFTEN
THAN NOT, INITIALLY A SMALL
BUSINESS, OFFERING A PRODUCT,
PROCESS OR A SERVICE FOR SALE
OR HIRE.
 -IT IS ALSO A CAPACITY FOR INNOVATION, INVESTMENT, AND
EXPANSION IN NEW MARKET, PRODUCTS AND TECHNIQUES.
 BENEFITS OF THE COURSE TO THE SENIOR HIGH SCHOOL
STUDENTS

1. Classify individual entrepreneurial interests.

2. Apply basic marketing acumen
3. Determine legitimate sources of resources
4. Analyze ownership structures.
5. Convert THREATS into OPPORTUNITIES
6. Adaptation of concepts and strategies for idea generation.
7. Evaluate feasibility of Ideas,
8. Discovery of entrepreneurial innovators who also have the competence edge to start
their own business.
9. Consider ethical and legal business practices.
10. Write a micro business plan
USEFULNESS OF THE COURSE TO THE STUDENTS

• Develops skills in starting up a business.

• Demonstrate skills in maintaining business in long term basis.
• Enhances knowledge of business operation and expansion.
• Finds next level of training or access other resources and services.
• Demonstrate business management
• Use components of a business plan.
• Considers to become employer rather than employee.
• Changes attitude toward entrepreneurship as a means of making a living.
• Changes in personal and career attitudes including:
– Communication
– Self-actualization
– Ability to manage one’s own life
– Self-concept and awareness
– Problem solving
– Self-management/personality responsibility
– Collaboration/networking
– Motivation
– Creativity
– Teamwork
 
IMPORTANCE OF ENTREPRENEURSHIP EDUCATION
1. ENTREPRENEURSHIP IS VERY IMPORTANT TO OUR ECONOMY AS KEY DRIVER.

2. ENTREPRENEURSHIP EDUCATION IS AN INDIVIDUAL LIFELONG LEARNING PROCESS.

3. ENTREPRENEURSHIP WILL ENERGIZE SCHOOL MANAGEMENT

4. ENTREPRENEURSHIP WILL TRANSFORM LEARNERS TO BE INNOVATORS.

Entrepreneurship is very important to our economy as Key driver.
• It focuses in wealth and a high majority of jobs are created by small businesses
started by entrepreneurially minded individuals. It also gives taxes to the
country and the government will use it in the development of our economy.

Entrepreneurship education is an individual lifelong learning process.

• It started as early as elementary school and progressed through all levels of
education. Students can be progressively performing more challenging
educational activities and develop the insight needed to discover and develop
opportunities and take advantage of these.
• The development of a person is continuous and you will learn everything in the
real world (actual situation) because “Experience is the best teacher”.
Entrepreneurship will energize school management.
• School in the area of entrepreneurship must be accessible, affordable and
accountable in producing successful students. It energizes the name of the
school and teachers because they are motivated to set a goal and that will result
to a good quality of education.
 
Entrepreneurship will transform learners to be innovators.
• Learner must be equipped with the perseverance and determination of an
entrepreneurial mindset at the outset of their careers. They must be more
engaged and take ownership of their own success. Students must be involved in
ways of entrepreneurial activities to discover that learning is more fun and
more meaningful than the traditional ways of learning.
REASONS WHY ENTREPRENEURIAL EDUCATION SHOULD BEGIN
NOW.

• Entrepreneurship Education benefits every student by giving them alternate career path at any
time in their lives. Students should know how businesses make money.
 
• Entrepreneurship Education also provides an idea for teaching academic subjects making those
studies requisites in the real world. It helps every student to prepare and ready for future
situations.

• It maintains the innovative and creative thinking skills of a person. Learners should be
innovators.
 
• Most of the students who transfer or migrate to other communities frequently want to come
back to some point in their lives but they cannot find a good job opportunity back home. (Ex.
OFW)
 

LESSON 2

KEY COMPETENCIES AND COMMON COMPETENCIES

COMPETENCIES
This can be considered as the capability, capacity and ability of the learner
in handing situation in various areas in business operations such in
marketing, management, production or technical, and financial.
 IN STARTING A BUSINESS, LEARNER SHOULD SEEK ENTREPRENEURIAL COMPETENCIES SUCH AS:

1. LOCUS OF CONTROL :
Entrepreneurs must know how to
determine the state to which a person
agreed that their actions can directly
affect a situation or that they can
control a result. (ex. Behavior of the
entrepreneurs or salesman towards the
customer).
2. SPECIFIC GOAL SETTING: Entrepreneurs should be motivated to set goals.
• Goals must be specific, measurable, attainable, realistic and time-bound.
3. SELF-EFFICACY: Entrepreneurs must believe in their own ability of self-
confidence. Learners with high self-efficacy will persevere even in the face of
setbacks, will take negative feedback mire positively and use feedback to
improve their performance.
4. LAYERS OF COMPETENCY: Entrepreneurs should know the group of
attributes, some of which are applicable to all entrepreneurs, while others are
occupation/industry specific.
• 5. NEED FOR ACHIEVEMENT: Entrepreneurs must have high need for achievement take
responsibility for outcomes. Engage in activities that have a moderate degree of consequences
and require skill and effort.
6. AMBITION: Entrepreneurs must be motivated, persistent, and persevere even
in the face of situational challenges. They are patient and persistent, passionate
and goal-driven.
7. WILLINGNESS TO LEARN: Entrepreneurs should have strong willingness
to learn often pursue opportunities to acquire new skill and competencies.
8. STRONG INITIATIVE: Entrepreneurs must have a high initiative are often
driven to work hard. They frequently work independently to achieve task master,
regardless of the extra effort necessary.
 
9. ADAPTABILITY & FLEXIBILITY: Entrepreneurs must learn how to be a highly
flexible and adaptable often very well with a unique ability to choose actions even
without necessary information. Be flexible in dealing with different kind of customers.
 
10. WILLINGNESS TO TAKE RISKS: Not only are successful learners willing
to take consequences, they can also identify and calculate risk. Entrepreneurs
should be willing to sacrifice their TIME, MONEY, and EFFORT.
11. INTERPERSONAL SKILLS: Learners with strong interpersonal skills has
skills of working well with people from different backgrounds.
THESE ARE THE ENTREPRENEURIAL SKILLS NEEDED IN
ORDER TO ACHIEVE OBJECTIVES AND GOALS OF THE
ORGANIZATION:
 •
NETWORKING/COLLABORATION: is the ability to build professional relationships or
partnering with business contacts.
 
• CREATIVE/CRITICAL THINKING: Learners who engage in creative thinking are able to
both generate innovative solutions and use relevant information to understand the “greater
picture”.
 
• ORGANIZING: Successful entrepreneurs plan and prioritize work to ensure time is managed
effectively. They can work methodically and effectively allocate time and resources.
• CHECKING, EXAMINING & RECORDING: The ability to maintain confidential records,
easily allocate and complete appropriate forms and paperwork, detect errors, and make the
necessary corrections is vital to successful entrepreneurship.

• PLANNING: Entrepreneurs must be specific about the direction of their venture and the
strategy they will adopt to achieve their goals.
 
• BUSINESS PRINCIPLES: Entrepreneurs must understand the basic principles of business.
 
• COMPUTER COMPETENCY: Entrepreneurs must be competent in the use of basic computer
hardware (ex. Printers, copiers, PC’s) and software (ex. Spreadsheets, word processing).
 
• WORKPLACE COMPETENCIES: Workplace competencies have been defined as “the
application of knowledge, skills, attitudes, values, and behaviors in the workplace.

• HIGH GROWTH, HIGH VALUE ENTREPRENEURSHIP: Entrepreneurs typically offer

incentive compensation, manage business operations, build a strong entrepreneurial culture
around determination and high work ethic.
 
• INNOVATION & CREATION: Successful entrepreneurs apply their creativity to the
formulation of inventive systems and productions.
   
• MARKETING: Successful entrepreneurs are competent in bot executing strategies that
promote their products and establish client/customer relationships
• BUSINESS OPERATIONS: Entrepreneurs performs business operations such as scheduling
manpower, and maintaining inventories of goods and management human capabilities. 0

• RISK ASSESSMENT & MANAGEMENT: Entrepreneurs can handle risk management and
take into account legal actions.
 
• FINANCIAL MANAGEMENT: Entrepreneurs are knowledgeable in assessing financing
needs, determining risks, and identifying sources of funds.
 
• PROBLEM SOLVING & DECISION MAKING: Entrepreneurs who are skilled at problem
solving and decision-making are critical thinkers.
 
 
1O COMPETENCIES FOR ENTREPRENEURIAL SUCCESS.

• INTEGRITY – The entrepreneur has a positive sense of values and personal beliefs, making decisions honestly and
fair.
 
• CONCEPTUAL THINKING – The entrepreneur is prepared to use new approaches and comes up with new Ideas
that may enhance work.
 
• RISK TAKING – The entrepreneur understands that risk taking means trying to anticipate future problems thus
solve new problems that may arise in the business organization.

• NETWORKING/COLLABORATION – Business partners that will help in decision making, and business operations
such as marketing, financial and production.
• STRATEGIC THINKING – The entrepreneurs understands that thinking using strategies can
help achieve goals in the organization. Strategy means ways to accomplish something in
relevance to the aims and objectives.

• COMMERCIAL APTITUDE – the entrepreneur keeps himself updated with developments in

the locality: seeks out best practice: and identifies and determines opportunities that are not
common to others.
 
• DECISIVENESS – the entrepreneur resolves issues as they arise in an unavoidable situation
and responds flexibly to deal with changing priorities set by upper authorities.
 
• OPTIMISM – the entrepreneur persists in pursuing goals despite hindrances and problems;
performs in the hope of success rather than fear of failures; and manages difficult situation
• CUSTOMER RELATION SERVICE – the entrepreneur develops and builds trust and long-
term relationship with customers.

• PEOPLE CENTERED – They build the total capability of the people involved. They always
consider the principles of inclusiveness in planning and dealing with others.